Financial analysis of a multinational enterp... / ID: 690549

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Идентификатор:690549

Автор: Jevgenija76 (137)

Оценка:

Опубликованно: 24.10.2022.

Язык: Английский

Уровень: Университет

Литературный список: 56 единиц

Ссылки: Использованы

Рассмотреный период: 2016–2020 гг.
2021–2025 гг.

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Содержание

Nr.	Название главы	Стр.
	EXECUTIVE SUMMARY	i
1.	Introduction	1
2.	Methodology	2
3.	Ratio analysis	3
3.1.	Debt ratios	3
3.1.1.	Debt ratio	3
3.1.2.	Debt to equity ratio	4
3.2.	Liquidity ratios	5
3.2.1.	Current ratio	5
3.2.2.	Quick (acid – test) ratio	6
3.3.	Activity ratios	6
3.3.1.	Inventory turnover	7
3.3.2.	Average collection period	8
3.4.	Profitability ratios	8
3.4.1.	Return on total assets	9
3.4.2.	Return on equity	9
3.5.	Market ratios	10
3.5.1.	Price/Earnings ratio	11
3.5.2.	Market/Book ratio	12
4.	Working Capital Management	13
4.1.	Cash Conversion Cycle	13
4.2.	INDITEX Cash Conversion Cycle timeline for 2020	13
4.3.	Comparison of INDITEX and its competitors’ CCC	14
4.3.1.	Average Age of Inventory	14
4.3.2.	Average Collection Period	15
4.3.3.	Average Payment Period	15
4.3.4.	Cash Conversion Cycle	16
4.4.	The impact of inbound logistics on CCC	16
4.4.1.	EOQ (Economic Order Quantity)	16
4.4.2.	JIT (Just in Time)	17
4.4.3.	MRP (Materials Requirement Planning)	17
4.5.	INDITEX CCC experience	17
4.6.	The impact of the proposed strategy	18
5.	Capital structure	19
5.1.	Debt	19
5.2.	Equity	19
5.2.1.	Stock valuation	19
5.3.	Optimal capital structure	19
5.4.	Cost of capital	20
5.5.	Leverage	21
5.5.1.	Operating leverage	21
5.5.2.	Financial leverage	21
6.	Bonds and stocks	23
7.	Commentary on the news article	24
7.1.	Impacts on the financial state of INDITEX	24
8.	Conclusion	26
9.	Recommendations	27
9.1.	Financial Perspective. ROE	27
9.2.	Financial Perspective. ROA	27
9.3.	Customer Perspective	27
9.4.	Internal Business / Learning and Growth Perspectives	28
	Reference list	29
	Appendices	36
	APPENDIX A: Consolidated statements	36
A.1.	Consolidated statements of INDITEX	36
A.2.	Consolidated statements of Fast Retailing Co	40
A.3.	Consolidated statements of H&M	44
A.4.	Consolidated statements of GAP Inc	49
	Appendix B: Calculations of ratios	53
B.1.	Calculations of INDITEX ratios for a period 2018-2020	53
B.2.	Calculations of Fast Retailing Co. ratios for a period 2018 - 2020	54
B.3.	Calculations of GAP Inc. ratios for a period 2018-2020	56
B.4.	Calculations of H&M ratios for a period 2018-2020	58
	Appendix C: Calculations of cash conversion cycle for 2020	60
	Appendix D: Calculations of the degree of financial and operating leverage for 2020	61
	Appendix E: Article that impacts the financial performance of INDITEX	62
	Appendix F: Industry analysis	64
F.1.	Porter`s Five Forces analysis	64
F.2.	SWOT Analysis of INDITEX	64

Фрагмент работы

INDITEX company had been chosen as a multinational, parent enterprise for this financial analysis. The main purpose of this financial analysis is to understand the effects of decisions made based on the financial ratios, inbound logistics, capital structure.
Combined ratio analysis was conducted, therefore, INDITEX was compared to its main competitors– GAP Inc., Fast Retailing Co., H&M, using the data from consolidated statements. Companies were compared in terms of debt, liquidity, activity, profitability, market ratios. Analyzing the results of calculations, INDITEX took leading positions almost in all ratios. However, the COVID – 19 noticeably affected the fashion retail industry. Therefore, the inventory turnover decreased from 5.50 to 3.88; ROA from 16% to 4% in 2020; ROE decreased by 20%.…

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